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Grant Cardone has directed his team at Cardone Capital to “immediately cease all underwriting of New York City real estate” over President Trump’s recent verdict.
Dear Cardone Capital Team
Immediately cease all underwriting for New York City real estate. The risks currently outweigh the opportunities.
Recent political decisions will continue to worsen prices and benefit states without these challenges.
Focus on Texas… pic.twitter.com/nTdJ5d4dO5
— Grant Cardone (@GrantCardone) February 20, 2024
He was also interviewed on Fox and Friends.
He said, “When that verdict was handed down, it was like a pencil dropped. Don’t touch it. Don’t go there.”
Some national real estate investors, like Grant Cardone of Cardone Capital, are telling their teams to pack up and leave New York in the wake of the verdict in former President Trump’s fraud trial. .
“We saw this year as an opportunity to expand into Chicago, California and New York City. I was confident,” Cardone told Steve Doocy on Wednesday’s “Fox & Friends.” “And when that verdict was handed down, it was like a pencil dropped. Don’t touch it. Don’t go there.”
The business leader recently gained attention for posting on X that his company would “immediately cease” all underwriting of real estate in New York City as it focused on other markets such as Texas and Florida.
Cardone also argued that New York state’s risks “outweigh its opportunities” in terms of real estate values, and that blue states are becoming more politicized when it comes to business.
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